Understanding Strategic Management
Námskeið
- V-712 Strategic management.
Ensk lýsing:
Understanding Strategic Management is the ideal introduction to strategy for students on one-semester courses who require an informative yet practical approach. The book's four-part structure defines the concept of strategy, before using the overarching strategic framework of analysis, formulation, and implementation to show how strategy can be used to develop a sustainable competitive advantage in business.
Making use of chapter maps and learning objectives to guide students through the complexities of the subject, the author conveys the realities of strategic management through a diverse selection of international and contemporary examples. Strategy in Focus boxes use examples from popular media to show strategic management issues at work in the headlines we read every day. A longer, integrated Case Example closes every chapter tying in multiple strategic challenges that affect businesses large and small, public and private.
Review and discussion questions then encourage students to be critical of the material and juxtapose alternative concepts and frameworks to evaluate their strengths and weaknesses. With the book succinct and accessible by design, students may extend their learning with additional material available in the online resources. Written by the author to build seamlessly on the book, Extension Material is signposted from every chapter, providing further depth on a specific topic where required.
As the tools of analysis underlie formulation and implementation, unique Working through Strategy materials give students opportunities to practice essential techniques such as PEST analysis and scenario planning themselves. The rounded approach, extensive examples, and additional resources make this book the most complete, balanced, and accessible introduction for students taking their first steps into strategic management.
Lýsing:
'Understanding Strategic Management' is the ideal introduction to strategy for students who require a concise, informative and practical approach. The book's four-part structure defines the concept of strategy, before using the overarching strategic framework of analysis, formulation, and implementation to show how strategy can be used to develop a sustainable competitive advantage in business. The author conveys the realities of strategic management through diverse, international and contemporary examples, while Strategy in Focus boxes use examples from popular media to show strategic management issues at work in the headlines we read every day.
A longer, integrated case study in every chapter ties together multiple strategic challenges that affect businesses large and small, public and private. Review and discussion questions then encourage students to be critical of the material and juxtapose alternative concepts and frameworks to evaluate their strengths and weaknesses. Students may extend their learning with additional material available as part of the online resources.
Written by the author to build seamlessly on the book, Extension Material is signposted from every chapter, providing further depth on a specific topic where required. Multiple choice questions are also signposted at the end of every chapter, encouraging students to test their knowledge and understanding. The rounded approach, extensive examples, and additional resources make this book a balanced and accessible introduction for students taking their first steps into strategic management.
The ebook offers a mobile experience and convenient access: www. oxfordtextbooks. co. uk/ebooks The online resources include: For students: Internet exercises Glossary Extension material Working through strategy Multiple-choice questions Additional recommended resources For lecturers: Bank of additional case studies Additional discussion questions and prompts Test bank Further case material Answers to discussion questions PowerPoint slides Figures and tables from the book.
Annað
- Höfundur: Anthony E. Henry
- Útgáfa:4
- Útgáfudagur: 2021-07-07
- Engar takmarkanir á útprentun
- Engar takmarkanir afritun
- Format:ePub
- ISBN 13: 9780192603630
- Print ISBN: 9780192603623
- ISBN 10: 0192603639
Efnisyfirlit
- Cover Page
- Title Page
- Copyright page
- Dedication page
- List of Cases
- Acknowledgements
- About the Author
- About the Book
- How to Use this Book
- Learning objectives
- Strategy in Focus boxes
- Case Studies
- Extension Material signposts
- Working through Strategy signposts
- Review and discussion questions
- Research topics
- Recommended reading
- Glossary
- How to Use the Online Resources
- Part One What is Strategy?
- Chapter 1 What is Strategy?
- Introduction
- 1.1 What Is Strategy?
- 1.2 Defining Strategy
- 1.2.1 Using Strategy to Overcome Challenges
- 1.3 Types of Strategy
- 1.3.1 Corporate Strategy
- 1.3.2 Business Strategy
- 1.3.3 Functional or Operational Strategy
- 1.4 Strategic Management
- 1.4.1 Strategy Analysis
- 1.4.2 Strategy Formulation
- 1.4.3 Strategy Implementation
- 1.5 Values, Vision, and Mission
- 1.5.1 Values
- 1.5.2 Vision
- 1.5.3 Mission
- 1.6 The Theory of the Business
- 1.6.1 Four Characteristics of an Organization’s Theory of the Business
- 1.7 Business Models
- 1.8 The Development of Strategic Management
- 1.9 Different Perspectives on Strategy Formulation
- 1.9.1 The Rationalist School
- 1.9.2 The Learning School
- 1.10 A Strategic Management Framework
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Chapter 1 What is Strategy?
- Chapter 2 Evaluating the Macro-environment
- Introduction
- 2.1 The Macro-environment
- 2.2 Scanning, Monitoring, and Forecasting Changes in the Environment
- 2.2.1 Scanning the Environment
- 2.2.2 Monitoring the Environment
- 2.2.3 Forecasting Changes in the Environment
- 2.3 PESTLE Analysis
- 2.3.1 Political Factors
- 2.3.2 Economic Factors
- 2.3.3 Social Factors
- 2.3.4 Technological Factors
- 2.3.5 Legal Factors
- 2.3.6 Environmental Factors
- 2.3.7 How to Undertake PESTLE Analysis
- 2.3.8 Limitations of PESTLE Analysis
- 2.4 Scenario Planning
- 2.4.1 How to Build Scenarios
- 2.5 An Introduction to SWOT Analysis
- 2.6 The Macro-environment and Industry Analysis
- Summary
- Research Topics
- Recommended Reading
- References and Notes
- Chapter 3 Industry Analysis
- Introduction
- 3.1 The Background to Porter’s Five Forces Framework
- 3.2 Porter’s Five Forces Framework
- 3.2.1 What Determines the Threat of New Entrants
- Economies of Scale
- Capital Requirements
- Product Differentiation
- Access to Distribution Channels
- Cost Advantages Independent of Size
- 3.2.2 What Determines the Bargaining Power of Buyers
- Concentration of Buyers and High Volumes
- Purchases are Standard or Undifferentiated
- Switching Costs are Low
- There is a Threat of Backward Integration
- 3.2.3 What Determines the Bargaining Power of Suppliers
- Concentration of Suppliers
- Suppliers are Faced with Few Substitutes
- Differentiated Products and High Switching Costs
- Threat of Forward Integration
- 3.2.4 What Determines the Threat of Substitute Products and Services
- The Price–Performance Ratio
- 3.2.5 What Determines the Intensity of Rivalry among Competitors in an Industry
- Numerous or Equally Balanced Competitors
- Industry Growth Rate
- High Fixed Costs
- Lack of Differentiation
- High Exit Barriers
- 3.2.6 How to Compete Using the Five Forces Framework
- 3.2.1 What Determines the Threat of New Entrants
- 3.3 The Limitations of Porter’s Five Forces
- 3.4 The Value Net
- 3.4.1 A Complementary Sixth Force
- 3.5 The Industry Life Cycle
- 3.5.1 Introduction Stage
- 3.5.2 Growth Stage
- 3.5.3 Maturity Stage
- 3.5.4 Decline Stage
- 3.6 Strategic Group Analysis
- 3.6.1 Strategic Maps
- 3.6.2 Mobility Barriers
- 3.7 Hypercompetition and Disruptive Innovation
- 3.7.1 Hypercompetition
- 3.7.2 Disruptive Innovation
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Chapter 4 The Organization: Value-creating Activities
- Introduction
- 4.1 Background to Differential Firm Performance
- 4.2 Value Chain Analysis
- 4.2.1 Primary Activities
- 4.2.2 Support Activities
- 4.3 Evaluating the Value Chain
- 4.3.1 The Importance of Linkages within the Value Chain
- 4.3.2 Managing Linkages within the Value Chain System
- 4.3.3 Transaction Costs—‘Make or Buy’ Decision
- 4.4 SWOT Analysis
- 4.4.1 How to Undertake a SWOT Analysis
- 4.4.2 Limitations of SWOT Analysis
- 4.5 The TOWS Matrix
- 4.6 Organizational Performance
- 4.6.1 Maximizing Shareholder Value
- 4.6.2 Meeting the Needs of Stakeholders
- How Should an Organization Respond to Different Stakeholders?
- High Power and High Interest Stakeholders
- High Power and Low Interest Stakeholders
- Low Power and High Interest Stakeholders
- Low Power and Low Interest Stakeholders
- 4.6.3 Performance Measurement
- 4.7 The Balanced Scorecard
- The balanced scorecard approach looks at an organization from four perspectives.37
- Criticisms of the Balanced Scorecard
- 4.8 The Triple Bottom Line
- Limitation of the Triple Bottom Line
- 4.9 Benchmarking
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Chapter 5 The Internal Environment: A Resource-based View of Strategy
- Introduction
- 5.1 The Resource-Based View of Strategy
- 5.1.1 Resources
- Tangible Resources
- Intangible Resources
- 5.1.2 Organizational Capabilities
- Architecture
- Reputation
- Innovation
- 5.1.1 Resources
- 5.2 The VRIO Framework and Sustainable Competitive Advantage
- 5.2.1 Valuable Capabilities
- 5.2.2 Rarity
- 5.2.3 Imitability
- Unique Organizational Conditions
- Causal Ambiguity
- Social Complexity
- 5.2.4 Organization
- 5.2.5 Make-or-Buy Decision
- 5.3 Criticisms of the Resource-Based View
- 5.4 A Knowledge-Based View of the Organization
- 5.5 Dynamic Capabilities
- 5.5.1 What are Dynamic Capabilities?
- 5.5.2 Dynamic Capabilities vs Operational Capabilities
- 5.5.3 Dynamic Capabilities and Competitive Advantage
- 5.5.4 Challenges for Dynamic Capabilities
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Chapter 6 Business Strategy
- Introduction
- 6.1 What is Business Strategy?
- 6.2 Generic Competitive Strategies
- 6.2.1 Overall Cost-Leadership Strategies
- The Experience Curve
- Economies and Diseconomies of Scale
- Advantages of Cost-Leadership Strategies
- The Risks of Following an Overall Cost-Leadership Strategy
- 6.2.2 Differentiation Strategies
- Advantages of Differentiation Strategy
- Risks of Following a Differentiation Strategy
- 6.2.3 Focus Strategies
- Cost-Focus Strategy
- Differentiation-Focus Strategy
- Advantages of Focus Strategies
- The Risks of Following a Focus Strategy
- 6.2.4 Stuck in the Middle
- Criticisms of Generic Strategies
- 6.2.1 Overall Cost-Leadership Strategies
- 6.3 A Resource-Based Approach to Strategy Formulation
- 6.3.1 Appraising Capabilities
- 6.3.2 Implications for Strategy Formulation
- 6.4 Blue Ocean Strategy
- 6.4.1 Value Innovation
- 6.4.2 The Strategy Canvas
- The Four Actions Framework
- The Eliminate-Raise-Reduce-Create Grid
- 6.4.3 The Blue Ocean
- Blue Ocean Idea (BOI) Index
- 6.6.1 How to Respond to Disruptive Innovation
- 6.6.2 Limitations of Disruptive Innovation
- Introduction
- 7.1 Corporate Strategy
- 7.2 Growth Strategies
- 7.2.1 Market Penetration
- 7.2.2 Product Development
- 7.2.3 Market Development
- 7.2.4 Diversification
- 7.3 Related Diversification
- 7.3.1 Vertical Integration
- 7.3.2 Horizontal Integration
- 7.3.3 Transaction-Cost Analysis
- 7.4 Unrelated or Conglomerate Diversification
- 7.4.1 Can Conglomerate Diversification Succeed?
- 7.5 Implementing Growth Strategies
- 7.5.1 Mergers and Acquisitions
- 7.5.2 Internal Development
- 7.5.3 Joint Ventures and Strategic Alliances
- Joint Ventures
- Strategic Alliances
- 7.6.1 Boston Consulting Group Matrix
- Criticisms of the BCG Matrix
- 7.6.2 The General Electric–McKinsey Matrix
- 7.7.1 Parenting Opportunities
- 7.7.2 The Heartland Matrix
- Heartland Businesses
- Edge-of-Heartland Businesses
- Ballast Businesses
- Value Trap
- Alien Territory
- 7.8.1 Suitability
- 7.8.2 Feasibility
- 7.8.3 Acceptability
- Introduction
- 8.1 Globalization or Localization
- 8.2 International Diversification
- 8.2.1 Organizational Factors
- The Role of the Management Team
- Firm-Specific Factors
- 8.2.2 Environmental Factors
- Unsolicited Proposals
- The ‘Bandwagon’ Effect
- Attractiveness of the Host Country
- 8.2.1 Organizational Factors
- Strategic Objectives of a Multinational Enterprise
- Sources of Competitive Advantage for a Multinational Enterprise
- 8.4.1 Multidomestic Strategy
- 8.4.2 Global Strategy
- 8.4.3 International Strategy
- 8.4.4 Transnational Strategy
- 8.4.5 The Uppsala Model
- Criticisms of the Uppsala Model
- 8.5.1 Exporting
- 8.5.2 Licensing
- 8.5.3 International Franchising
- 8.5.4 Joint Ventures and Strategic Alliances
- 8.5.5 Wholly Owned Subsidiaries
- 8.6.1 The Diamond of National Advantage
- 8.6.2 Criticisms of Porter’s Diamond
- Chapter 9 Organizational Structures and Strategic Change
- Introduction
- 9.1 Organizational Structures
- 9.1.1 The Entrepreneurial Structure
- 9.1.2 The Functional Structure
- 9.1.3 The Divisional Structure
- 9.1.4 The Matrix Structure
- 9.1.5 The Network Structure
- 9.2 Organizational Processes
- 9.3 Strategic Control Systems
- 9.3.1 Single and Double-Loop Learning
- 9.3.2 Employee Commitment and Strategy Implementation
- 9.4 Strategic Change
- 9.4.1 The Five Phases of Growth
- Phase 1: Creativity
- Phase 2: Direction
- Phase 3: Delegation
- Phase 4: Coordination
- Phase 5: Collaboration
- 9.4.2 Integrative Change
- 9.4.3 Strategic Drift
- 9.4.4 What Determines a Visionary Organization
- 9.4.5 Good to Great Companies
- 9.4.1 The Five Phases of Growth
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Chapter 10 Strategic Leadership
- Introduction
- 10.1 Leadership vs. Management
- 10.2 The Learning Organization
- 10.2.1 Building the Learning Organization
- 10.2.2 Leadership Roles
- 10.2.3 Leadership Skills
- Criticisms of the Learning Organization
- 10.2.4 Why Organizations Don’t Learn—Problems with Bias
- 10.3 Emotional Intelligence and Leadership Performance
- 10.4 Narcissistic Leaders and Leadership Capabilities
- 10.4.1 Leadership Capabilities
- 10.5 The Impact of Leadership on Values and Culture
- 10.5.1 Leadership and Values
- 10.5.2 Leadership and Culture
- 10.5.3 Rethinking Culture, Leadership, and Change
- 10.6 Leading Strategic Change
- 10.6.1 Transformational Leadership
- 10.6.2 Theory E and Theory O Leaders
- 10.6.3 Can Leaders Deal With Chaos?
- Chaos Theory and Innovation
- Summary
- Research Topic
- Recommended Reading
- References and Notes
- Introduction
- 11.1 What is Corporate Governance?
- 11.2 The Origins of Corporate Governance
- 11.3 The Growth of Modern Corporations
- 11.3.1 Limited Liability
- 11.3.2 Transferability
- 11.3.3 Legal Personality
- 11.3.4 Centralized Management
- 11.4 The Purpose of Corporations
- 11.4.1 The Principal–Agent problem
- 11.4.2 Is the Purpose of Corporations to Maximize Shareholder Value?
- The American Business Model (ABM) or Washington Consensus
- 11.4.3 The Agency Problem
- 11.4.4 Is the Purpose of Corporations to Meet the Needs of Stakeholders?
- 11.4.5 Enlightened Value Maximization
- 11.5 Corporate Social Responsibility (CSR)
- 11.5.1 Environmental, Social, and Governance (ESG)
- 11.5.2 Business ethics
- 11.6 Corporate Governance Codes
- 11.6.1 The Cadbury Committee
- 11.6.2 The Hampel Committee
- 11.6.3 Other Corporate Governance Codes
- 11.6.4 The Role of Non-Executive Directors
- 11.6.5 The Sarbanes–Oxley Act
- 11.7 Excessive Executive Pay
- 11.8 Is Reform to Corporate Governance the Answer?
- 11.9 The Pursuit of Greed
- 11.9.1 Moral Hazard: Are Some Companies Too Big to Fail?
- Summary
- Research Topic
- Recommended Reading
- References and Notes
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- Gerð : 208
- Höfundur : Anthony E. Henry
- Útgáfuár : 2021
- Leyfi : Leiga